My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2022-09-26_PERMIT FILE - M2022034
DRMS
>
Day Forward
>
Permit File
>
Minerals
>
M2022034
>
2022-09-26_PERMIT FILE - M2022034
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/27/2022 8:34:37 PM
Creation date
9/27/2022 8:44:46 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M2022034
IBM Index Class Name
Permit File
Doc Date
9/26/2022
Doc Name Note
2nd Incompleteness Response
Doc Name
Completeness Response
From
Korwell Land Holdings
To
DRMS
Email Name
PSH
JLE
Media Type
D
Archive
No
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
29
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
7.3 Purchase of Withdrawn Member's Membership Interest. <br /> 7.3.1 The purchase price of the Withdrawn Membef s Membership Interest shall be <br /> the"Appraised Value."The Appraised Value,as used in this Operating Agreement,shall be <br /> a dollar amount equal to the product obtained by multiplying(a)the percentage of ownership <br /> as shown in paragraph 2.1 above by (b) the fair market value of the Company's assets as <br /> determined in accordance with Section 7.3.1.1 minus the liabilities of the Company. <br /> 7.3.1.1 Fair Market Value. The fair market value of the Company's assets <br /> shall be determined in the following manner:within 60 days of the Effective Date the <br /> offering Member, the personal representative of the decedent or heir, the <br /> withdrawing Member or the expelled Member as the case may be, shall select an <br /> appraiser(Member's Appraiser)to determine the fair market value of the Company's <br /> assets. <br /> 7.3.1.1.1 The Member's Appraiser shall submit his/her <br /> determination thereof within 30 days after the date of his/her selection (the <br /> "Appraisal Due Date"). <br /> 7.3.1.1.2 If the Appraisal made by the Member's Appraiser is <br /> unsatisfactory to the Company,the Managers shall select an appraiser within <br /> 15 days after the date of the Appraisal Due Date to determine the fair market <br /> value of the Company's assets. Such appraiser shall submit his/her <br /> determination thereof within 30 days after the date of his/her selection. <br /> 7.3.1.1.3 If the appraisal made by the Company's appraiser is <br /> unsatisfactory to the personal representative of the decedent or heir, the <br /> withdrawing Member or the expelled Member, as the case may be, then the <br /> Managers of the Company and the personal representative of the decedent or <br /> heir, the withdrawing Member or the expelled Member, as the case may be, <br /> shall select a third appraiser to determine the fair market value of the <br /> Company's assets and such appraiser shall submit his/her determination <br /> thereof within 30 days after the date of his/her selection. The appraiser's <br /> determination thereof shall be binding upon the Company, the Remaining <br /> Members and the offering Member, the personal representative of the <br /> decedent or heir, the withdrawing Member or the expelled Member, as the <br /> case may be. <br /> 7.3.1.1.4 Qualifications of Appraiser. Any and all appraisers <br /> selected in accordance with the provision of this Section 7.3.1 shall be <br /> appraisers who conduct their business in the area where the assets of the <br /> Company are principally located in accordance with generally accepted <br /> appraising standards. Any and all costs incurred in connection with any of <br /> the appraisals provided for in this Section 7.3.1,shall be born equally by the <br /> Company and the offering Member, the personal representatives of the <br /> 10 <br />
The URL can be used to link to this page
Your browser does not support the video tag.